Mixed-Use Building with
85 Rockaway Ave Brooklyn, NY 11233
For Sale
$1,690,000
Two-story mixed-use building with a street-level storefront and basement, plus two updated 2-bedroom apartments.
Property Size2,504 SF
Lot Size0.03 Acres
Price / SF$674.92
Days on Market16
Property Features for 85 Rockaway Ave
General Information
- Standard status
- Active
- Size
- 2,504 SF
- Lot size
- 0.03 Acres
- Property subtype
- Investment
Building Details
- Year Built
- 1931
Listing Agency:
(718) 808-2030
Listed By:
Haiim Russo
(718) 808-2030
Source:
Elliman
Added: Jul 9
Changed: Jul 22
Last Checked: Jul 24 at 9:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Haiim Russo
Investment Insights
Based on property information with market context.
This two-story mixed-use building includes a commercial storefront with basement space rented together, along with two updated 2-bedroom apartments. The residential units feature modern finishes, hardwood floors, stainless steel appliances, exposed ductwork, and recessed lighting, and each apartment has access to laundry space and a total of two bathrooms across the building.
The property is located in Brooklyn’s Ocean Hill section with convenient transit access, including the A/C at Rockaway Avenue, the J/Z at Chauncey Street, the L at Bushwick Avenue, and the Broadway Junction transit hub.
As currently configured, the storefront and basement generate one combined rent amount, while the two apartments are rented at separate rates. One apartment is expected to become vacant soon, offering flexibility for an owner-operator or investor re-leasing timing.
The property is located in Brooklyn’s Ocean Hill section with convenient transit access, including the A/C at Rockaway Avenue, the J/Z at Chauncey Street, the L at Bushwick Avenue, and the Broadway Junction transit hub.
As currently configured, the storefront and basement generate one combined rent amount, while the two apartments are rented at separate rates. One apartment is expected to become vacant soon, offering flexibility for an owner-operator or investor re-leasing timing.
Key Highlights
- Two‑story mixed‑use building (built 1931) with a street‑level storefront and basement plus two updated 2‑bedroom apartments
- Current gross rental income: $10,300/month ($123,600/year); storefront and basement rented together for $5,000/month
- Residential rents total $5,300/month with apartments at $2,500/month and $2,800/month
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $194.7k | $77.76 |
| − Vacancy | −$23.2k | −$9.25 |
| EGI | $171.5k | $68.51 |
| − OpEx | −$51.5k | −$20.55 |
| NOI | $120.1k | $47.95 |
2,504 SF · lease $77.76/SF/yr · vacancy 11.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.72M
$1.50M – $2.00M
NOI $120,078 @ 7.0% cap · market cap 7.11%
Second Best
Mixed Use
$1.30M
$1.14M – $1.51M
NOI $90,895 @ 7.0% cap · market cap 5.38%
Theoretical Best
Specialty Retail
$2.07M
$1.81M – $2.42M
NOI $145,132 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Prayer Tabernacle International
Church
Species Pet World
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building with a street-level storefront and basement, plus two updated 2-bedroom apartments.
Where is this mixed-use property located?
The property is located at 85 Rockaway Ave Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Two‑story mixed‑use building (built 1931) with a street‑level storefront and basement plus two updated 2‑bedroom apartments; Current gross rental income: $10,300/month ($123,600/year); storefront and basement rented together for $5,000/month; Residential rents total $5,300/month with apartments at $2,500/month and $2,800/month
